We have two NRAS units in Melbourne. The licensee originally contracted the properties to a PM (PM A)for 5 years. The licensee now have their own PM and wants to take back the properties. The properties have now been empty for 6 months. Issue being, the licensee is not approving the tenants submitted by the PM since they want to take the properties back. The appointed PM A also does not want to hand over keys to the licensee, citing the 5 year contract. They have their issues and are both sending each other threats of legal action, but we are the ones losing out as owners? Are NRAS PM contracts different from the ones I normally sign? Never heard of 5 years before. The fight also doesn't make sense, no one gets paid with zero rent.
Hey Wukong, Melbourne might be different... But as an NRAS approved PM in Adelaide I can tell you that the management contracts are no different; the difference lies only with the tenant approval / renewal process. The duration of the management contract is whatever you agreed to on there - most here are 2 years regardless of whether NRAS or normal property. So assuming you want to stay with PM A, I'd probably tell the other to get lost. The problem being, if you're relying on them for tenant approvals / renewals, it's going to make your life tricky. Hence is the nature of these schemes sometimes. I'd take this up with the govt dept DSS. @euro73 probably has a contact.
Ouch. You will not get the NRAS incentive for the period it is empty! One problem I've encountered with NRAS is that the consortium picks the PM. So if you are having problems with the PM and they are the only approved one in the town, you are stuck with them.
@euro73 yes it's ethan housing. What's the implications to our NRAS incentives as well? Any ideas to fix?
@D.T. not to fussy about PM A If the license holder ie ethan housing needs to sign off on new tenants, then PM A does not have any control at all
